Posting by Joshua Smith, CPA, CFE
P: 301.272.6076 | E:
This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
With the integration of digital devices in everyday business activities, companies have become highly susceptible to unwanted attacks and data breaches from third parties. Not only does a company have to consider internal third party invasion threats, but also threats to external resources and vendors (e.g., banking institutions, credit card companies, supply chains, etc). The question is not if your company will experience a third party attack, but when an attack will occur. It is imperative to consider and mitigate risks while being mindful of the costs/benefits of employing such protective measures.
|
|
Posting by Tara McKinney, CPA
P: 301.272.6018 | E:
This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
As accountants, we often witness instances where strong employee ethics have prevented fraud. As required by Statements on Auditing Standards No. 99 for financial statement audits, auditors interview and inquire of management and employees within the entity itself about the risks of fraud, effectiveness of controls in place in the organization, any known or suspected fraud, and other various topics relating to fraud. In many instances, personnel will enlighten us with one or more ways that they believe a person could commit fraud or steal from the organization. They may also explain shortcomings they see in the internal controls, some of which management had not yet considered. In these cases, strong ethics – and not proper controls - have prevented fraudulent acts.
|
|
Posting by John Merchant, CPA, CFE
P: 301.272.6030 | E:
This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
Employers often ask whether there are any signs to look for or other indications of fraud being perpetrated by their employees. Following are a few examples of things to look for.
The employee has a sudden need for cash. Employees who are basically honest and who would normally not even consider stealing from their employer may have a change of heart when confronted with a sudden need for cash. For instance, the employee’s spouse suddenly loses his/her job or has a drastic reduction in compensation. Or, a child or parent becomes seriously ill or injured and there is a need for expensive medical treatment. A sudden change of circumstance often provides motivation for a change in behavior.
|
|
|
Forensic Accounting Firm
Offices in Bethesda, Maryland/Washington DC and Alexandria Virginia
presented by Bond Beebe, forensic accountants
Hello everyone, and welcome to the Forensic Accounting Blog sponsored by Bond Beebe, a Washington, DC based forensic accounting firm of certified public accountants and certified fraud examiners, with offices in Maryland and Virginia We have started this blog to provide a forum to talk about fraud, forensic accounting, forensic investigations, litigation support and their many related issues. As a firm of certified public accountants, we at Bond Beebe constantly deal with the possibility of fraud, whether performing services as auditors, tax specialists or management advisors. And, as forensic accountants, investigators, and advisors, we strive to assist our clients in the detection and prevention of fraud. So, we have set up this site to express our views and pass along information that we hope will be of interest to readers and participants. For more information on forensic accounting, please click here: Forensic Accounting
Certified fraud examiners and forensic accountants in Washington, D.C.
Although Bond Beebe will sponsor this site and the
Certified Fraud Examiners in our firm will be frequent contributors, it is our hope that many of you who are interested in fraud and forensic investigations will feel free to participate with your comments. Also, it is our intent to feature articles by Guest Bloggers from time to time to allow multiple points of view from information technology specialists, attorneys, college professors and other professionals who have devoted their careers to this topic. So, again, we welcome you and look forward to your comments.
